Top Student Saving Tips: How to Save Money as a Student in 2025

Being a student often comes with financial challenges, but with the right strategies, you can effectively save money and manage your finances better. Whether it’s creating a student savings account, making smart investments, or adopting everyday saving habits, this guide covers everything you need to know about student saving in 2025.

What is a Student Savings Account?

A student savings account is a bank account designed specifically for students. These accounts often come with features such as:

• Zero or low fees: Reduced or waived maintenance fees to accommodate students’ limited budgets.
• High interest rates: Competitive interest rates to encourage savings.
• Accessibility: Convenient online and mobile banking options.
• Exclusive benefits: Perks such as discounts, cashback, or rewards tailored for students.

These accounts are ideal for managing your finances and building good savings habits during your academic years.

Which Bank is Best for a Student Savings Account in Bangladesh?

Here are some of the top banks in Bangladesh offering excellent student savings accounts:

Bank Name	Features
Dutch-Bangla Bank	High interest rates, mobile banking, no maintenance fees
BRAC Bank	Flexible deposit options, cashback on transactions
Islami Bank	Shariah-compliant accounts, attractive savings rates
Eastern Bank Limited	Student-friendly loans, debit card offers
Pubali Bank	Low minimum balance, easy account opening process

Before choosing a bank, compare the features, interest rates, and benefits to find the account that best suits your needs.

Which Savings Account is Best for Students?

When selecting a savings account, consider the following factors:

• Interest Rates: Look for accounts that offer high returns on your savings.
• Account Fees: Opt for accounts with no or minimal fees.
• Accessibility: Ensure the account has user-friendly online and mobile banking services.
• Student Perks: Some accounts offer unique benefits such as discounts, cashback, or free transactions.

Examples of student-friendly accounts globally include:

1. Chase College Checking Account (USA): Low fees and a bonus for opening the account.
2. Santander 1|2|3 Student Account (UK): Cashback on purchases and overdraft options.
3. ANZ Access Advantage (Australia): No monthly fees and free transactions.

Top Tips for Saving Money as a Student

1. Create a Budget

Use apps like Mint or YNAB (You Need a Budget) to track your income and expenses. Allocate specific amounts for necessities, leisure, and savings.

2. Open a Student Savings Account

Take advantage of low-fee, high-interest accounts to save effectively. Look for accounts offering perks tailored for students.

3. Utilize Student Discounts

Many retailers, restaurants, and travel companies offer discounts for students. Platforms like UNiDAYS and Student Beans list the latest deals.

4. Reduce Textbook Costs

• Buy used textbooks or digital versions.
• Use online resources like Project Gutenberg or your university’s library.
• Sell old textbooks to recoup some money.

5. Cook at Home

Avoid eating out frequently by preparing meals at home. Use meal prep strategies to save both time and money.

6. Leverage Public Transportation

Skip owning a car if possible. Use public transport, student passes, or bike-sharing programs.

7. Find Part-Time Jobs

Explore flexible job options such as tutoring, freelancing, or working on campus to earn extra income without compromising your studies.

8. Cut Unnecessary Subscriptions

Cancel subscriptions or memberships you don’t use. For streaming services, consider sharing accounts with friends or family.

9. Save on Utilities

Reduce energy and water usage to lower utility bills. For example:

• Turn off lights when leaving a room.
• Use energy-efficient appliances.

10. Set Savings Goals

Define clear financial goals, such as saving for a trip or an emergency fund, to stay motivated.

Which Investment is Best for Students?

Investing can be a great way to grow your money while you’re still in school. Here are some options:

• High-Yield Savings Accounts: Safe and accessible for short-term savings.
• Robo-Advisors: Platforms like Betterment and Wealthfront make investing simple for beginners.
• Exchange-Traded Funds (ETFs): Low-cost, diversified investments suitable for long-term goals.
• Certificates of Deposit (CDs): Fixed-term investments with higher returns than regular savings accounts.
• Education Savings Plans: Such as 529 plans (in the US), which offer tax benefits for educational expenses.

Always assess your risk tolerance and financial goals before investing.

Is a Student Account Better?

Student accounts are often better than regular accounts for students due to their tailored features:

• Fee Waivers: Most student accounts eliminate maintenance fees.
• Higher Interest Rates: These accounts often offer better interest rates on savings.
• Tailored Perks: Benefits like cashback, discounts, and overdraft protection are common.
• Flexibility: Easy access through mobile banking and lower minimum balance requirements.

However, always compare account options and read the fine print to ensure you’re getting the best deal.

Bonus: Tools and Resources for Student Saving

• Budgeting Apps: Mint, PocketGuard, YNAB
• Discount Platforms: UNiDAYS, Student Beans, ID.me
• Free Online Courses: Coursera, Khan Academy, edX
• Cashback Sites: Rakuten, Honey, TopCashback

Final Thoughts

Saving money as a student doesn’t have to be overwhelming. By opening a student savings account, leveraging discounts, budgeting wisely, and exploring low-risk investments, you can set yourself up for financial success. The habits you develop now will benefit you long after graduation.

Start today and take control of your finances! Whether it’s saving for a dream trip, managing daily expenses, or building an emergency fund, every small step counts. Happy saving!

FAQs: Saving Money as a Student

1. Why is saving money important for students?

Saving money helps students manage their finances, build financial independence, and be prepared for unexpected expenses. It also reduces reliance on loans and helps develop lifelong money management skills.

2. How can I save money on a tight budget?

• Track your spending to identify unnecessary expenses.
• Set aside a small percentage of your income or allowance.
• Take advantage of student discounts and free resources.
• Cook meals at home instead of eating out.
• Use budgeting apps to keep finances in check.

3. Are there apps that can help students save money?

Yes! Popular apps include:

• Mint: Tracks spending and helps with budgeting.
• YNAB (You Need a Budget): Focuses on giving every dollar a purpose.
• Splitwise: Helps manage shared expenses with roommates or friends.
• Acorns: Rounds up purchases and invests the spare change.

4. What are some ways to save on textbooks and school supplies?

• Buy used textbooks or rent them from platforms like Chegg or Amazon.
• Check for free e-books or library resources.
• Trade or share books with classmates.
• Shop during sales or look for student discounts on stationery and supplies.

5. How can I save on food costs?

• Meal prep to avoid eating out frequently.
• Shop for groceries with a list to avoid impulse buys.
• Buy in bulk for non-perishable items.
• Take advantage of student meal plans or campus food programs.

6. Are there ways to save on transportation?

• Use public transport or bike instead of driving.
• Check if your school offers free or discounted bus passes.
• Carpool with classmates to share costs.
• Look for student discounts on train or bus services.

7. How can I save money while still having fun?

• Look for free or discounted events on campus or in your community.
• Use student discounts for movies, entertainment, and subscriptions.
• Organize game nights or potlucks instead of expensive outings.

8. Should I start a savings account?

Yes! Many banks offer student savings accounts with low fees or minimum balance requirements. Consider accounts with higher interest rates or special perks for students.

9. What about managing debt as a student?

• Avoid taking on unnecessary debt.
• Pay off credit card balances in full each month to avoid interest.
• If you have student loans, understand the terms and repayment plans.
• Focus on building good credit habits.

10. Any tips for earning extra money while studying?

• Take up part-time jobs on or near campus.
• Offer tutoring or freelance services in your skill areas.
• Sell items you no longer need (clothes, books, gadgets).
• Apply for scholarships or grants to reduce expenses.